JLL closes sale of Chicago-area industrial portfolio
High Street Logistics Properties acquired the five-property portfolio
CHICAGO, May 5, 2020 – JLL Capital Markets announced today that it has closed the sale of a five-property industrial portfolio totaling 539,109 square feet along Interstate 80 in the Chicago-area suburb of Tinley Park, Illinois. A sixth building within the portfolio is set to close later this month.
JLL marketed the property on behalf of the seller. High Street Logistics Properties purchased the assets via High Street Real Estate Fund VI, the Boston-based company’s sixth investment vehicle.
The portfolio properties are located within the I-80 Industrial corridor and in the northeastern most point of Will County. This location provides the buildings with immediate access to Interstate 80, one of the most critical transportation arteries in the country, and access to downtown Chicago.
The JLL Industrial Capital Markets team representing the seller was led by Senior Directors Kurt Sarbaugh and Robin Stolberg and Senior Managing Director John Huguenard along with Senior Directors Ed Halaburt and Sean Devaney.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About High Street Logistics Properties
High Street Logistics Properties is a recognized private equity real estate investment management company with a proven track record of performance investing exclusively in institutional quality industrial and logistics properties located in major markets across the eastern two-thirds of the United States. With a cycle-tested fund investment strategy focused on the acquisition of small box regional, local and last mile distribution properties, and characterized by income, appreciation and moderate leverage, High Street has consistently adhered to its investment discipline and commitment to generating attractive risk-adjusted investment returns for its investors.